What Is A BPO In Real Estate | Broker Price Opinion
A BPO in real estate is short for Broker’s Price Opinion which is an opinion of value of a specific piece of real estate performed by a real estate broker or real estate agent.
A BPO is created by analyzing the subject property along with 3 ideal active comparables and 3 ideal sold comparables to arrive at a fair market valuation.
You see, lending institutions utilize BPO’s to get fair market values in the cases of mortgage sell offs, short sales, pre foreclosures and foreclosures.
They use real estate agents because it is a more cost effective strategy than hiring a certified appraiser.
Broker Price Opinions are a fantastic way for real estate agents to hone in their real estate valuation skills.
But more importantly, they are also a fantastic way to make money especially during a real estate recession.
If you want to learn more about Broker Price Opinions, check out this next video on how to make $100 per day doing BPO’s.
And if you want to make BPO’s a part of your side income business or even full time, I created a course called BPO Pros. You can check out more details in the link below.
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